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and it is the next big fight in washington. the president is set to pick chuck hagel as his next press secretary and it is proving to be a controversial choice. well carry it live and look at what it means for the defense stocks. meantime, my partner ty is down at nyse today, hi, ty. >> hi, sue. you mentioned some of the reasons why. investors seem to be selling off in the wake of last week's major rise for the markets. though it got choppy on thursday and friday. rg3's knee explains why. worries over that, certainly coloring investors at this hour. nasdaq off a third of a percent at 3,090. s&p 500, 1457.98. down a little bit. oil off rather substantially today. and the dollar a little bit weaker against a couple of currencies. bob pisani is here. what's up, bob? >> our lows of the day. i was talking all last week of how much of the big move up was due to the fiscal cliff and how much due to new money coming in. today it looks like that was a lot about new money coming in. as you can see, less energy. in terms of sectors here. most major names with big moves up last week. energy financials for e
in washington. where today president obama for some reason went ahead with his decision to nominate chuck hagel for secretary of defense. hagel's a republican, but he's been accused of anti-semitism toward israel and he's also soft on iran. >>> and epa regulatory menace lisa jackson finally resigning because president obama apparently will approve the keystone pipeline. that's the latest from a number of sources. and i say good riddance to her, but good for the keystone pipeline. here is a disgraceful story tonight. new reports that welfare cash is being spent on strippers, booze, and important shows. whatever happened to work requirements. and the battle everyone's waiting for in miami tonight, notre dame looks to win the national championship over obama. but in one way, the fighting irish may have already won. and last but not least, i'm going to tell you why i think a debt ceiling and government shutdown, bad idea. i'm going to show you a better way. the "kudlow report" begins right now. . >>> first up, amid allegations of anti-semitism and antiisrael sentiments, president obama nonetheless
's my view. okay? let's start with chuck hagel replacing leon panetta. i fear hagel is going to dismantle the whole department of defense. we're talking about jack lew who is certainly further to the left of tim geithner. mr. lew is a government lifer. and john kerry well to the left of hillary clinton who was also recorded as rather hawkish as a senator. now hilda solis is resigning. not sure what that means, but as the president's moving further to the left in his second term. not a centrist. let's bring back karen finney, columnist for the hill. guy benson, and mark simone. guy, i think these appointments, all three of them, particularly, particularly hagel at defense, show a move to the left. what's your take? >> sure, i mean, of course they do, the president's a lefty, that's who he is. and now that he never has to face voters again, i think we'll see his administration drift even further to the left. i do see the lew appointment at least as an opportunity for republicans to highlight the fact that we have not had a federal budget in almost four years. and it is 100% the
've got chuck hagel who he's trying to sell as a great infantry man. i love nurses, but they shouldn't be the head of hhs. we need qualified people with credibility with the other side. >> this whole thing's sort of this insider liberalism. >> right. >> it seems to me, ari, that's basically what jack is. he's an insider liberal, he's going to take his marching orders. you know, this administration runs everything from the oval office and president obama's ideology, which is a left wing ideology. i don't happen to share it. he won the election, i get that, but you just can't convince me that a jack lew or chuck hagel are first class appointments. they're not. nobody's going to buy that. >> how much time do i get to respond to jennifer's points? >> you get about 40 seconds. >> look, i think briefly on senator hagel, he was on the foreign relations committee, he spoke out about iraq, he spoke out about the surge, he has a record, some people disagree with his policies, i think he's imminently qualified, not only obviously because he served bravely for our country but also because he did
today, president obama is expected to nominate former republican senator chuck hagel as defense secretary. republicans call him a controversial in your face pick. he criticized the iraq troops that opposed unilateral sanctions as iran and he once said that being gay impended effectiveness. there have been people on both sides of the aisle who have been mad about this. >> so what's the point? it's so weird, isn't it? >> that they've chosen him? >> yeah. both sides, neither side. sometimes you pick a republican that is bipartisan, but this is the one republican that most republicans -- >> he likes him for some reason. >> and it's going to be a battle. why do you like him? >> i don't like him. i don't know if i like him or don't like him. >> with all the act money and everything, why do we need a controversial pick for this? when neither the democrats nor the republicans seem to want him. it's going to be a protracted battle. >> i don't think you want to get in the middle of that. >> he served with valor in vietnam. that's part of why he's standing by him. but you would initially t
panetta not a happy camper about that. his likely replacement, chuck hagel, a dod budget cutter as far as we know. i'm wondering how this whole exercise is going to affect national security. here now is retired u.s. army general barry mccaffrey, military analyst for nbc news. general mccaffrey, welcome back. about $55 billion this year. can it be cut without compromising our national security, sir? >> it certainly will be an inefficient way to run a railroad. for god's sake there's only seven months left in the fiscal year. so leon panetta will go shopping with 2500 investment accounts and try and pull stuff out, not people. too late to do that. so they've got to go to the defense industry and tell them look we're not buying that many items this year. it's a lousy way to defend the country. >> well i'm sure you're right about that. but looking at the longer term issue here, the sequester itself is a ten-year issue. here's a question from one of the things i read today. why do we have a $70 billion military budget in europe? do we really need all those bases in all those resources? $70
as secretary of state, jack lew to replace timothy geithner and chuck hagel to as secretary of defense. tinny, good to see you. happy new year. >> happy new year to you, too. >> nice to see you. what do you make of the reshuffle? >> well, they are not surprising choices. there's a lot of discussion about whether obama's second term means changes or continuity. i'd use another key term which is consolidation. i think his cabinet are loyalists and insiders. they'll help move forward the agenda. there isn't a lot of change here. >> hillary clinton is going. >> again, i think you will see the perpetuation of the policy priorities that we've seen in the first term. in fact, many would say that the obama administration's foreign policy have been one of its most successful areas. he was long fit for this post, kerry, that is. >> you have set this up on raising the debt ceiling, wider agreement over getting any kind of grand bargain. where do we now go? he has his new team. >> not yet. they need to be confirmed. >> they need to be confirmed, obviously, but as we head towards a debt ceiling which has
Search Results 0 to 6 of about 7